2000 2005 2010 2015 2020 95.4 107 116.5 126.6 137 The above table shows a history of the Consumer Price Index (CPI) in Canada (2002 100). The price of a pair of shoes in 2020 was $69. What was the real price of the pair of shoes in 2020, expressed in 2005 dollars? O A. $53.89 O B. $49.73 O C. $61.43 O D. $58.58 page
Q: Among the given choices, which of these is the incorrect statement? a. Female education helps reduce…
A: Female education is an important aspect of the growth and development of the economy and society.…
Q: a) Suppose the market for petrol in an economy is monopolised and the market supply is given by Q =…
A: A speculative situation in which only one corporation can sell goods and services to the general…
Q: 1. Use the following information from a fictional economy: Consumption, C= 250 + 0.8 Yd Investment,…
A: c and d part only))hand written plzzzzz...othereise skip
Q: Halloween, Inc., is considering a new product launch. The firm expects to have an annual operating…
A: Given; Annual cash flow= $9.6 million Initial cost= $39.6 million Salvage value= 0 Life= 9 year…
Q: a) The construction of a beach-front resort has led to erosion of the seabed, destruction of corals…
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: Closing educational gender gap is broadly considered as economically desirable since ________. a.…
A: There is a gender gap in schooling all over the world which can be a consequence of numerous diverse…
Q: A Nash Equilibrium is the equilibrium of a game in which; Both players get the largest payoff…
A: In the mentioned question we have been asked about the nash equilibrium.
Q: 4a. Define barriers to entry, as discussed by Prof. Joe Bain in 1956. 4b. List 6 different types of…
A: who is joe bain Joe Staten Bain was a professor of economics at the University of California,…
Q: What value of T makes these two cash flow diagrams (see figure) economically equivalent at 15%…
A: 1000 + 500(NPV at 15% in year 2) + 1000(NPV at 15% in year 4) + 500(NPV at 15% in year 6) = T(NPV at…
Q: The Tax Cuts and Jobs Act (TCJA) of 2017 made two major changes to U.S. tax law. One was a reduction…
A: The Tax Cuts and Jobs Act of 2017 (TCJA) lowers income tax rates for most individual tax brackets…
Q: On the day his son was born, a father deposited to a trust company a sufficient amount of money so…
A: (Q) On the day his son was born, a father deposited to a trusted company a sufficient amount of…
Q: Q5-) A regional infrastructure building and maintenance contractor must decide to buy a new comp…
A: *Answer: *a Without adjusting for inflation. Given real rate of return is 5%. Now, let us…
Q: monetary policy that delivers highly variable 10 percent inflation rate per year, on average, over…
A: Hibernia's central bank implements monetary policies to stabilize the inflation rate at 2 percent…
Q: The Puritan Wellness Hotel sits next to the natural springs in the Silver Forest. Local firm…
A: Privately optimal output:P=50-QTR=P×QTR=(50-Q)QTR=50Q-Q2Now,MR=∂TR∂QMR=50-2QNow, Puritan incurs no…
Q: What function of money is highlighted when someone deposits a portion of his or her paycheck into an…
A: Money means the medium of exchange.
Q: In Taxland, the first $10,000 earned per year is exempt from taxation. Between $10,000.01 and…
A: Given:- First $10,000- ExemptB/W $10,000.01 and $30,000- 25% tax rateB/W $30,000.01 and $50,000- 30%…
Q: 1. Which is not true regarding the role of human capitals in economic development? a. Supplies labor…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: In economic terms, how would Hilo state what has happened when his coworker says she will help him…
A: Answer: Double coincidence of wants refers to the situation where both the parties get what they…
Q: 4. An individual has an object that is of no value to him. The individual wants to sell the object…
A: Answer - Second price Auction - Second price auction are the auction where the winner of the auction…
Q: Consider a Cournot duopoly model, where two firms compete by providing identical goods. The demand…
A: Firm 2 has 2 marginal cost where mC=2 is low marginal cost and mC=4 is the high marginal cost. This…
Q: The following data are given: Et = ¥ 105 = $1.00 Et+1 = ¥ 102 = $1.00 iU.S. = 13% If the interest…
A: PLEASE FIND THE ANSWER BELOW. INTEREST RATE PARITY: Interest rate parity (IRP) is a theory…
Q: Bastion owes Federico $100 for the concert ticket that Federico purchased for him. Federico owes…
A: A certificate of deposit is issued by a bank against the funds deposited at the bank. A promissory…
Q: Consider the two countries of Syria and UAE. A business man wants to do trade between the two…
A: Since you have posted a question with multiple sub parts, we will solve first three subparts for…
Q: Suppose that the productivity per worker in the milk and cranberry juice industries of Southland and…
A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…
Q: grow cherry tomatoes and catch salmon. The accompanying table shows the maximum annual output…
A: Dear student, you have asked multiple sub-part questions in a single post and have not mentioned…
Q: Economic development is unsuccessful to stabilize population growth in LDCs because of certain…
A: The increase in the number of human beings On the planet is known as population growth.Our…
Q: Suppose you can separate consumers into two groups: Group 1 has a price elasticity of demand = -3…
A: Price elasticity of demand refers to the ratio between the percentage change in quantity demanded to…
Q: A businessman purchases a common stock worth P1,000 every year for a period of 10 years. At the…
A: A businessman purchases a common stock worth P1,000 every year for a period of 10 years. At the of…
Q: Consider the game shown below. In this game, players 1 and 2 must move at the same time without…
A: In the mentioned question both players plays their game together and get their best payoff.
Q: 1. Use the following information from a fictional economy: Consumption, C= 250 + 0.8 Yd Investment,…
A: "As per the guidelines solution is provided to the first three sub parts of the question." "GDP…
Q: For something to be considered money, it must a) not be generally accepted as a medium of exchange.…
A: The answer is as follows:-
Q: A perfectly competitive widget firm has this long run total cost equation: LTC = (½)q³ – 6q² + 40q…
A: LTC = (1/3)q3 - 6q2 + 40q LMC = dLTC/dq = q2 - 12q + 40 LAC = LTC/q = (1/3)q2 - 6q +40
Q: Use the following diagram, which depicts a typical market with a positive externality, to answer…
A: Answer (20): Without government intervention, the competitive equilibrium will prevail and the…
Q: Upon comparing the costs and benefits, both private and social, of education leads economists to the…
A: In an economy, the difference between social and private gain or losses is that the social outcome…
Q: If ARORA-B =8%, which is > MARR of 6%, then we will keep project A and drop project B, even though…
A: The statement of - TRUE
Q: 22.)Which of the following is a market-based policy intervention to correct the negative externality…
A: The situation that arrives when the consumption or production of a product would result in a cost to…
Q: WHICH OF THE FF. IS FALSE ABOUT Price elasticity of demand D O D is inelastic when Ichange in…
A: The correct option is D is inelastic when change in quantity demanded < change in price. This…
Q: The main responsibility of a Central bank is: O Neither monetary or fiscal policy Both monetary and…
A: Monetary policy is the policy of the Monetary Authority of the country "Central Bank" that aims to…
Q: he table given below reports the value of different economic variables of a country during a year.…
A: Answer: Gross investment; gross investment is the sum of net investment and depreciation.…
Q: • Write out the household's optimization problem - utility function and budget constraint. Solve for…
A: In this question we are given:- Utility function=uc,h=c-h1+1∈1+1∈in which a household lives for one…
Q: Generally, countries which have higher average years of education per individual have ______. a.…
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: What seasonal adjustment factor would you recommend be used in making future June forecasts? 5.5% O…
A:
Q: 1. If the firms in a monopolistically competitive market are earning economic profits or losses in…
A: The structure of the industry where there are many buyers and sellers in the market and the product…
Q: a. For the demand curve P= 60 - 0.5Q, find the elasticity at P= 10. Instructions: Round your answer…
A:
Q: National income accounting can best be characterized as: Group of answer choices a microeconomic…
A: The government bookkeeping system that analyses the health of an economy, expected growth, business…
Q: (International labor movements) Consider two countries, Home and Foreign. Both countries use two…
A: Introduction Here production of home country and foreign country has given. MPL = 40 - L Initially…
Q: Price Social cost $14.00 Supply 10.50 9.00 7.00 5.50 4.50 1.00 Demand 600 800 Quantity A market…
A: The deadweight loss in the diagram is indicated by the shaded yellow region.
Q: An assembly operation at a software company now requires $100,000 per year in labor costs. A robot…
A: Given, Initial Cost=$200,000. Maintenance and Operation Cost=$64,000 (first 2 years); $10,000…
Q: What is the name given to the value that laborers produce but are not paid for, that is instead…
A: Labor cost is the complete of wages, advantages, and finance charges paid to and for all…
Q: explain the economic meaning of the HR business cycle based on the give-to-get economic duality?
A: The cyclical movement of an economy as it swings from growth to recession and again is known as an…
Step by step
Solved in 2 steps
- In 2019 and in 2020, consumers in Dexter consumed only books and pens. The prices and quantities for 2019 and 2020 are listed in the table. The reference base period for Dexter's CPI is 2019, and 2019 is also the year of the Consumer Expenditure Survey. Calculate the inflation rate in 2020. The inflation rate in 2020 is O A. 169.2 OB. 69.2 O C. 88.0 OD. 1.4 percent. **** Item Books Pens 2019 Price Quantity $8 3 $4 7 2020 Price Quantity $6 9 $10 8Suppose the consumer price index (CPI) accurately measures inflation: At the end of 2020, the U.S. federal minimum wage was $7.25 an hour, and the CPI was 260. In 1983, the minimum wage was $3.35, and the CPI was 100. Ceteris paribus, it follows that value of the minimum wage in 1983, as measured in 2020 dollars was: O a. $1.28 O b. $8.71 O c. $12.16 O d. $18.85 Next page ge.ull T-Mobile ? * 2:21 AM @ O 5% 4 A myopenmath.com How to calculate the inflation rate for food, 1913-2021 Start with the inflation rate formula: CPI in 2021/CPI in 1913 * 1913 USD value = 2021 USD value Then plug in historical CPI values from above. The CPI for Food was 9.923 in the year 1913 and 270.938 in 2021: 270.938/9.923 * $20 = $546.08 Therefore, according to the U.S. Bureau of Labor Statistics, $20 in 1913 has the same "purchasing power" as $546.08 in 2021 (in the CPI category of food). Use the highlighted info above to answer each question below. Round appropriately to the context. a. The absolute change in the cost of food from 1913 to 2021 was | 261.01 2$ Calculation: 261.015 b. The rate of change in the cost of food from 1913 to 2021 was $/year
- Suppose the consumer price index (CPI) accurately measures inflation, and: Suppose in 1961 your grandfather earned $12,000, and the CPI in 1961 was 30. In 2020, the CPI was 260. Ceteris paribus, it follows that your grandfather's salary in 2020 dollars equals: O a. $1,385 O b. $31,200 O c. $104,000 O d. $312,000 Next pageSuppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year. In 2012, the basket's cost was S77: in 2013. the basket's cost was $82; and in 2014, the basket's cost was $90. The value of the CPI in 2014 was O a. 109.8 and the inflation rate was 9.8%. O b. 109.8 and the inflation rate was 16.9%. O c. 116.9 and the inflation rate was 9.8. O d. 116.9 and the inflation rate was 16.9%.QUESTION 21 In 2011, a toy drone could be bought for $15 each. The same drones are available today and the price increased at exactly the rate of inflation. If the CPI in 2011 was 225 and today 256 then what is the price of that drone today? O a. $13.18 b. $17.07 c. $38.40 O d. $11.38
- If your nominal income is $80,000 and your real income in base year prices is $71,500, what is the CPI? O A. 112 O B. 106. O c. 100 O D. 89 O E. 15020) You know that a candy bar costs sixty OMR today.You also know the CPI for 1970 and the CPI for today.Which of the following would you use to compute the price of the candy bar in 1970 prices? Select one: O a. sixty OMR(today's CPI-1970 CPI) O b. sixty OMR(1970 CPI / today's CPI) O c. sixty OMR(1970 CPI-today's CPI) O d. sixty OMR(today's CPI / 1970 CPI)Using the CPI below as a measure of purchasing power, calculate the "real" hourly earnings for 2020 in terms of 2018 dollars, in 2 decimal places. Year CPI Actual hourly earnings ($) 2018 1018 31.30 1025 32.50 2019 33.66 2020 1051 O a. None of the given choices O b. $30.32 O c. $34.75 O d. $32.60 O e. $32.31
- The following table shows some values of the Consumer Price Index and the corresponding inflation rates for 2012-2015. Year CPI Inflation Rate 2012 229.6 2.1% 2013 233.0 2014 1.6% 2015 237.0 0.1% The value of the Consumer Price Index in 2014 was approximately. Select one: O a. 234.6 O b. 235.0 O c. 246.9 O d. 236.7In 2019 and in 2020, consumers in Dexter purchased only books and pens. 2019 2020 The prices and quantities for 2019 and 2020 are listed in the table. Item Price Quantity Price Quantity Books $4 6. $10 10 The reference base period for Dexter's CPI is 2019, and 2019 is also the year of the Consumer Expenditure Survey. Pens $6 $4 10 What is the inflation rate in 2020? The inflation rate in 2020 is percent. O A. 148.1 Ов. 2.1 OC. 80.0 D. 48.1 Click to select your answer. MacBook Air DII DD F12 F11 F10 F9 F8 20 F6 F7 F5 F4 F3 esc F1 F2 ! @ 23 $ 7 8 2 3 4 5 1 { P E R T Y Q W %3D tab L F G H S + IIAssume that in most years consumers consume roughly doble amounts of popcorn than potato chips. One year, the price of popcorn increased by 20% while the price of potato chips stayed constant. As a result, many consumers purchased more potato chips and fewer popcorn than usual. This price change would most likely cause O a. No change to either the CPI or GDP deflator O b. A larger change in the CPI than in the GDP deflator Oc. An equal change in the CPI and GDP deflator O d. A larger change in the GDP deflator than in the CPI A consumer is endowed with some capital, which they can use to produce output according to the production function y = k". They can divide that output between consumption now or save it as capital for next period. They have a utility function given by U(cj,c2) = In(c) + 99 In(c2). For which of the following values of a will the consumer want to save the largest percent of their output? O a. 2 Ob. .5 OC. Their saving rate does not depend on a d. 8 In a Solow model…